trevpar
Defining Blended Travel and Its TAM Through Marriott Hotel Examples
Adam and Larry Mogelonsky | October 30, 2024
By Adam and Larry Mogelonsky Every hotelier is already thinking about ways to take advantage of the growth of remote work and bleisure in the post-pandemic travel landscape. Best described now as ‘blended travel’ due to the many different types of travel it encompasses, let’s take a look at what Marriott is doing so you can learn from their example, as well as convince you a bit more about the opportunity here – the total addressable market (TAM) as they say. Whether remote work, temporary relocation, staycation or digital nomadism, with these emerging blended travel dispositions in mind, it behooves hotels to adjust their commerc...
How To Get Revenue Management Right for 2024
Ahmed Mahmoud | March 11, 2024
By Ahmed Mahmoud The hotel industry is an ever-changing landscape, like many other industries, it has been unpredictable over the past few years, especially in regards to revenue management with unprecedented growth and innovation. From advanced reservation systems to personalized guest experiences, technological advancements have played a crucial role in shaping the way hotels, resorts, restaurant and others provide their services to customers. As we approach the year 2024, it is time to look ahead and explore How to Get Revenue Management Right for 2024 with the top trends set to further transform this dynamic industry, where the sec...
RevPAR vs. TRevPAR
CoStar Group | December 19, 2023
If you work in the hotel business, acronyms are part of the job. Among the many shorthand terms we use, two are particularly important for measuring performance. Their names might strike a similar chord, but delving into these respective metrics reveals crucial distinctions. RevPAR and TRevPAR are two of the most frequently used metrics for hoteliers assessing the health of a property or portfolio as well as industry stakeholders measuring the health of market. However, understanding these measurements on their own is only half the battle. True performance insights are unlocked when you understand the fundamental differences between the...
Market Spotlight on Canada
HotStats | September 8, 2023
By Jeannette King Recent data on the performance metrics of the Canadian hospitality market reveals a compelling story of resilience and recovery tinged with a note of warning on bottom-line conversion. Amidst global challenges, the industry has demonstrated its tenacity, with the Total Revenue Per Available Room (TRevPAR) metric taking center stage in this narrative. In a comparative analysis spanning from 2019 to 2023, the trends underscore the transient nature of the setbacks faced in 2022 and highlight the industry's subsequent rebound. Specifically, the TRevPAR metric, which provides a holistic view of a hotel's revenue-generating ...
HotStats: UK Market Spotlight
HotStats | July 18, 2023
Monthly Trends: United Kingdom Hotel Market Performance (Year to Date 2023 vs Year to Date 2022 & 2019) In the latest updates on the regional market performance of the hotel industry in the United Kingdom, we share year-to-date data from May for 2023 compared to the same period in 2022 and 2019, according to HotStats’ monthly Hotel Benchmarking reports. TrevPAR (Total Revenue per Available Room): TrevPAR has seen an impressive year-on-year growth of 40% in 2023, surpassing the levels achieved in 2019 by 2%. Occupancy (Occ): While there is still a gap in occupancy compared to 2019, there has been a significant improvement of 15 ...
What Can Hoteliers Really Learn From TrevPAR?
Jason Q. Freed | May 16, 2023
By Jason Q. Freed Ancillary revenues are skyrocketing and total revenue figures can help hotels benchmark performance against their comp set, but operational decisions should be made by diving deeper. Because it provides a more holistic view of the revenue generated across an entire property, more hospitality leaders are turning to TrevPAR (Total Revenue Per Available Room) as a key measurement in their benchmarking and operational strategies. To calculate TrevPAR, hotels add all revenue generated from room sales, food and beverage sales, meeting room rental and spa services, and other sources of revenue, such as parking, resort fees...
U.S. Hotel TRevPAR Highest On Record in March
STR | May 2, 2023
HENDERSONVILLE, Tennessee—U.S. hotel total revenue per available room (TRevPAR) was the highest for any month on record, according to STR‘s March 2023 P&L data release. March 2023 per-available-room metrics (% change from March 2022) GOPPAR: US$95.12 (+14.5%) TRevPAR: US$238.22 (+17.5%) EBITDA PAR: US$71.07 (+14.4%) LPAR (Labor Costs): US$74.43 (+23.4%) “Revenues and profits improved for a second consecutive month with each of the key profit-and-loss metrics showing double-digit growth year over year,” said Raquel Ortiz, STR’s director of financial performance. “The increase in TRevPAR prevent...
It’s Time to Re-Evaluate Hotel Performance Metrics, Says HVS
HVS | March 7, 2023
07 March 2023, London: Hotel operators need to learn to manage the entire building they operate and start thinking of performance in terms of the total revenue or profit per available square metre, giving a more accurate assessment of the property’s success. This is the conclusion of a new report from global hotel consultancy HVS, which considers the limitations of various hotel performance indices used in the hotel sector as a benchmark for hotel investment, for property valuations and for analysing operating success. The most widely used performance index is Rooms Revenue per Available Room [RevPAR] which, HVS says, can be a usef...
